Application of Mis in Marketing

Information is the basis for every decision taken in an organization. The efficiency of management depends upon the availability of regular and relevant information. Thus it is essential that an effective and efficient reporting system be developed as part of accounting system. The main object of management information is to obtain the required information about the operating results of an organization regularly in order to use them for future planning and control. CONCEPT OF MISDEF: â€Å"A system of people, equipment, procedures, documents and communications that collects, validates, operates on transformers, stores, retrieves, and present data for use in planning, budgeting, accounting, controlling and other management process. † The Marketing Information System â€Å"A marketing information system is a continuing and interacting structure of people, equipment and procedures to gather, sort, analyse, evaluate, and distribute pertinent, timely and accurate information for u se by marketing decision makers to improve their marketing planning, implementation, and control†.Sales and Marketing is a key process for the sustenance of any business as revenues are a direct outcome of it. Information Systems within the Sales and Marketing process implement technologies that allow the personnel to access crucial and updated information related to access crucial and updated information related to customer preferences and market demands to offer prompt services. Information Systems are also helpful in identifying the most effective sales strategy that can be used in any particular case based on specified criteria, such as the market segment or the product category.APPLICATION OF MIS IN MARKETING Major Components of a marketing information system The marketing information systems and its subsystems The above diagram illustrates the major components of an MIS, the environmental factors monitored by the system and the types of marketing decision which the MIS s eeks to underpin. MARKETING MODELS: Within the MIS there has to be the means of interpreting information in order to give direction to decision. These models may be computerized or may not. Typical tools are: †¢ Time series sales modes. Brand switching models. †¢ Linear programming. †¢ Elasticity models (price, incomes, demand, supply, etc. ). †¢ Regression and correlation models. †¢ Analysis of Variance (ANOVA) models. †¢ Sensitivity analysis. †¢ Discounted cash flow. †¢ Spreadsheet ‘what if models. These and similar mathematical, statistical, econometric and financial models are the analytical subsystem of the MIS . MARKETING STRATEGIES USING MIS The role of Information Systems in devising Marketing strategies has been increasing over the years.Organizations derive the following benefits from implementing Information Systems in marketing: ? Creating effective Marketing plans: Target market identification, implementation of the entire m arketing campaign and finally setting up of required standards criteria and evaluating the performance of the plans generated. ? Customizing modules for specific requirements: Information can be used to manage campaigns to retain customers, vendors and optimize services regarding each contact. ? Managing critical business issues: Information Systems are effectively sed to manage critical issues, such as costs and budget analysis, media policies, establishing milestones and segment management for every campaign. ? Creating Product promotional strategies: Information Systems are used to design, analyze and implement product promotional strategies of a particular brand according to its price, quality, and other related issues. ?Conducting market analysis: Information Systems can be used to survey the potential market and this information can be analyzed to develop specific target market strategies. Preparing comprehensive reports: Information Systems can filter information to provide c ustomized solutions to marketers. This information can be viewed in various ways such as summarized views, total, sub total, statistical views or graphic views. DIFFERENT TYPES OF REPORTS USED IN MARKETING SALES CALL REPORT – This report contains data about the potential customer. It also contains details about the types of items customer is interested in. QUOTATION – It is a document that gives a statement of the price, terms and the condition for a sale a supplier offers for the items.PURCHASE ORDER – It is a written document from the customer to the seller listing the required items and providing a description of the goods. INVOICE – It is a note asking for payments for goods and services that have been supplied. The invoice accompanies the delivery of ordered goods. SALES REPORT (product wise) – A sales report suggests the total product wise sales. From this report one can draw conclusions about the product preferences of customers in different months of the year. 1. MONTHLY SALES REPORT (Sales person wise) – Sales persons are given individual sales targets.This report shows the cumulative sales made by each salesperson for a month. OTHER ASPECTS OF MIS IN MARKETING Managing Financial transactions Providing stock and inventory details Maintaining relevant customer information Integrating sales processes MANAGEMENT INFORMATION SYSTEM IN E – COMMERCE E – Commerce is one of the fastest growing segments of the internet, which is used by businesses.BENEFITS: Information Systems are being used in management of E – commerce. The Information Systems offer the following benefits: ? Integrating existing point of sales systems. Integrating with other E – Commerce driven applications to provide the analysis of market effectiveness in terms of real business. ? Managing customer information that can then be used for effective analysis to predict buying trends. ? Provides various methods that can be us ed for diverting traffic onto the required websites. ? Integrating graphs and multiple report building wizards for the creation of effective reports based on any type of information. ? Information systems also provide various customer retention strategies according to each segment or market campaign or sales force.

Report of Michael Hill Jewellery Case Study Example | Topics and Well Written Essays - 2250 words

Report of Michael Hill Jewellery - Case Study Example This leadership theory describes two extremes of leadership concern. Concern for production and concern for people, the leader who is concerned for production targets high results and productivity while the one concerned about people care little about productivity and is more concerned about being loved and approved by the people. This theory defines a few types of leaders; the country club leader has the highest concern for people. This type of leaders assumes that if an employee is happy, work will be well carried out. The relationship between the leader and the employee is casual just like that of friends. The impoverished leader is more concerned about productivity as well as the employees. This leader gives little motivation, therefore, leaving the employees confused about their job and find no joy in doing their set duties. The middle of the road leader balances between his concern for the people and productivity. He settles for less satisfying work and the end result is the mediocre performance. There is also the team leader who insists on high levels of production and employee performance. The leader sets goals and assists the employees in meeting these goals. Finally, the authoritarian leader who leads by controlling, overpowering and demanding; the leader is more concerned about productivity and employees are a tool for achieving this productivity. The objective of this model of leadership is to show that when employee and results concerns are high, productivity will increase accordingly. The leadership at MHJ should better understand this theory as it will greatly improve the productivity of the employees and in turn, lead to higher profits. The organization strives to provide the most fun and friendly environment for the employees. They emphasize that just like their collection, each employee is seen as unique with valuable insights and ideas.

Strategic management and some of its tools Essay

Strategic management and some of its tools - Essay Example 26 (a) Introduction 26 You might include 26 Aims of the paper 26 Definition of strategic management 26 Importance of strategic management in health/social care organisation 26 Description of strategic management process 26 Description of strategic management tools used in organisations 26 Brief description of strategic management activities of your organisation 26 Very brief description of the strategic management tools used in your organisation 26 When you are writing the introduction you should select material from a wide range of appropriate sources (e.g. text books, journal papers, your organisational documents) in order to develop a line of argument. 26 (b) Discussion or body of the paper 26 The body of the paper can be thought of as a series of building blocks that escort the reader step by step through your argument. This is the part where you report on your reading, weigh up arguments for and against a proposition, and present the evidence. You need to integrate theory and fa cts from your organisation to develop your argument. Discussion or the body of the paper should have subtitles. You might include: 26 Detailed description of the strategic management tools (e.g. ... 26 Description of strategies formulated after the analysis 26 Discussion on usefulness/limitations of the tool/tools used ( integrate theory and the facts from your organisation to argue your case) 26 Description/evaluation of role of strategic leadership (i.e. leadership role your management play) in both strategy formulation and implementation in your organisation. ( integrate theory and the facts from your organisation to develop your argument). The role of strategic management may include 26 Poster 1 BULLYING IN THE WARD FIRST SECOND THIRD Introduction One of the concerns of the staffs pertains to bullying. This has been raised several times in the weekly meeting. This is a big hindrance in providing high quality care to the patients. Problem Bullying has created negative mark in the interpersonal relationships of the Staff. It has affected the nurse-nurse relationships which is crucial in providing high quality care to patients which is the primary goal of the Hospital. Method U sing SWOT analysis, one of the threats identified is bullying. It is important that this is address as it results into job dissatisfaction among some of the Staff. This information is gained from the weekly meeting being conducted by the Department. Discussion Nurse-nurse relationship is one of the most crucial relationships in ensuring that high quality care s delivered to the patients. If nurse-nurse relationship is hounded by bullying, it causes job dissatisfaction, distrust among co-workers, reduces collaborative effort among the staff, decreases commitment, stress among the staff, and physical illness that can lead from being absent from work (Bigony et al 2009). This situation is critical as bullying in the workplace, in this case, in the ward can result into poor judgment on the part

Physics of Formula One Essay Example | Topics and Well Written Essays - 4500 words - 1

Physics of Formula One - Essay Example Enzo Ferrari the legend behind the name Ferrari had a passion for car racing which motivated him to come out with the brand name which is today a household name in the field of F1 races. It was in 1945 that the work started on designing and building the very first Ferrari, a project which was being prepared around 12-cylinder2 – a first in the history which went on to provide a direction to the car in general and car racing in particular. Ferrari was the first car to use 1.5 litre unit in a V12 configuration. Since then the company has not looked back. Ferrari, the car was the brain child of its founder Enzo Ferrari. The journey begins with the foundation of Scuderia, sort of a club, on 16th November 1929, exclusively for participating in motor-racing competitions. Enzo Ferrari an integral part of Alpha Romeo for many decades, parted ways in 1929. When Ferrari left the club, he was not allowed to have his name on any of the cars or clubs for the next four years. But his resolve and patience saw him through in his ventures and he started with an 8-cylinder, 1500 cc sports spider, named as 815. It was only in 1946 that the name Ferrari comes into being for cars. The company has not looked back since then. Thereafter came its association with Michael Schumacher in 1996, which further helped in establishing the brand equity called ‘Ferrari’. The F1 racing is now an integral part of Ferrari. In fact F1 racing has now become a big industry in itself. Such developments have started driving other car manufacturers as well int o the race and serious manufacturers like BMW have also started experimenting with the sporty driving. Though it may sound boring to people watching the racing on the tracks, its television clippings have started commanding huge premium. This potential was foreseen by Mr. Ecclestone of ‘Formula One Administration’, who produces the electronic feed being watched by over 40 billion viewers (The

Change is a feature of modern life; discuss and critically analyse how Essay

Change is a feature of modern life; discuss and critically analyse how a nurse can manage change in order to deliver effective patient care - Essay Example The presentation of current conditions regarding the above issue is also followed with views of literature on the specific subject with an effort to choose and evaluate the most appropriate model for the presentation of the nurse-patient relationship as been formulated under the influence of change in the internal and the external organizational environment. Change management is the process [1] of developing ‘a planned approach to change in an organization’. In this context it can be assumed that its main objective is ‘to maximize the collective benefits for all people involved in the change and minimize the risk of failure of implementing the change’. For the above reasons, it has been found that the discipline of change management ‘deals primarily with the human aspect of change, and is therefore related to pure and industrial psychology’. There are several theories referring to the role and the structure of change management, the most known of which is that of Lewin. Lewin’s theory of force field analysis (Lewin 1951) is widely used in change management and can be used to help understand most change processes in organisations. In force field analysis change, is characterised as ‘a state of imbalance between driving forces (e.g. new personnel, changing markets, new technology) and restraining forces (e.g. individuals fear of failure, organisational inertia)’. Moreover, in order to achieve change ‘towards a goal or vision three steps are required: Third, once the change is complete the forces are brought back into quasi-equilibrium and re-frozen’. The above theory although explains the role of secondary forces in an organizational environment does not offer an adequate explanation regarding the criteria on which the ‘frozen, de-frozen’ procedures are going to be based. Moreover, it has been

Diversity Research Paper Example | Topics and Well Written Essays - 750 words - 2

Diversity - Research Paper Example Lost is an action, adventure, mystery, serial drama, science fiction and mystical drama film, While Greys Anatomy is an American medical drama series. In Lost, a plane, ‘oceanic 815’, flying to Los Angeles crashes on a mystifying island, leaving its survivors marooned in it without the resources to get help from the mainland. Greys Anatomy is all about the lives of the interns, inhabitants and their mentors in the illusory Seattle Grace hospital. It depicts their struggles to achieve their medical internships and have proper personal lives. In the two films, Asian American characters have been cast in quality roles. Lost has featured four Asian American characters; ‘Daniel Dae Kim’, ‘Yunjin Kim’ and ‘Naveen Andrews’ for main characters, and Ken Leung as a minor character. Greys Anatomy features Sandra Oh as the only character of Asian American descent. The Asian American characters in Lost have been given different roles; Daniel Dae Kim plays the husband of Yunjin Kim who is the offspring of an influential Korean entrepreneur and mobster. Naveen Andrews plays the role of a former Iraqi republican guard, while Ken Leung plays the role of a sarcastic supposed ghost whisperer. Greys Anatomy Sandra Oh plays the role of a surgical intern who progresses to a full surgeon. Asian Americans are underrepresented in primetime films, as white film writers do not write for this ethnic group. Asian American characters encompass only of 4% of the prime time television populace (Kendall, 186). Preponderance of the characters portrayed in key television population is cast in drama and science fiction making up 63%. 21% are cast in crime or law enforcement series, and 16% are cast in sitcoms or comedies (Kendall, 186). There are ranges of rationale why Asian Americans are underrepresented in prime time shows. Firstly, tribal issues frequently come up with writers writing for white characters only (Larson, 69). Secondly,

Understanding the Principles and Practises of Assessment Essay Example for Free

Understanding the Principles and Practises of Assessment Essay Assessment is the process of measuring the achievement of learners. It is an obvious way of checking that learning has taken place and is a good way of measuring the learner’s knowledge and practical skills that they have learnt. It is important for the assessor to initially establish whether the learner has any specific learning needs so that they can prepare to support the learner in whichever way they feel necessary. Learning and development are closely connected. The learner needs guidance in order to understand what it is they are required to learn, also to check that they are on track and also ways in which they can improve. This is generally where formative assessment comes into play. Formative assessment is used whilst learners are developing their skills and can also be useful throughout their course. It gives the assessor the opportunity to provide the learner with constructive feedback which they can use to improve their future performances. It also allows the learner to build on their strengths and learn from mistakes by listening to the assessor’s feedback, preparing them for summative assessment. Summative assessment is used when the students are up to a standard where they can carry out an assessment without any support or guidance. This should be up to industry standards and completed to commercial timing. By this stage there should be very few, if any areas for improvement and the learner must have a very strong underpinning knowledge of the subject. (AC 1.2) Define the key concepts and principles of assessment It is vital that assessment has to be fair, consistent and valid to ensure all learners have an equal chance of receiving a fair assessment. An assessor should not be swayed to give a learner an easier assessment because they favour them or on grounds of gender, race, sexual orientation or religious beliefs; the assessment process should be the same for every learner and purely judged on their knowledge, skill and competence within their subject area. There may be occasions where the assessment process has to be adapted to suit learners’ individual needs; however this still should eventually lead to the same outcome. In order for an assessment to be fair the assessor should clearly identify to the learner what outcomes are being assessed so that there is no area for confusion between the learner and assessor. Assessors should take guidance from the awarding body that they work alongside for the assessment criteria, for example in my area of work; I have to abide by the criteri a that is set out by VTCT. To ensure that the evidence is sufficient the learner should successfully cover all of the criteria set out by the awarding body and by the industry in which they are working. The most reliable way to ensure that an assessment is valid and reliable is for the assessor to observe a student first hand. This is the clearest way for the assessor to be sure that the student possesses the knowledge that is shown in their work and that it has not been copied from another source. This evidence should also be current, so therefore the assessor would need to have witnessed this within a reasonable timeframe as things change so frequently. It is important for assessors to ensure that they are up to date with current trends and changes within their industry and all assessors are required to keep up to date with continual professional development. It is also vital that all assessors are assessing to the same standard, this is usually monitored and updated during team standardisation meetings whic h should be carried out regularly. (AC 1.3) Explain the responsibilities of the assessor An assessor should firstly fully understand the standards and requirements they are working to. This means that all assessors should be fully qualified to the required standard within their industry and should regularly attend team standardisation meetings to ensure they are assessing to the same standards as other assessors.